U.S. stock futures point lower; MasterCard announces a 10-for-1 stock split; HP declares that desktops 'are not dead,' Hilton's IPO is expected to be priced on Wednesday.

1. -- U.S. stock futures were declining and stocks across the globe were mostly lower as investors have drawn the conclusion it's likely the Federal Reserve will curtail stimulus for the U.S. economy this month.

2. -- The economic calendar in the U.S. Wednesday includes the Treasury Budget for November at 2 p.m. EST.

3. -- U.S. stocks on Tuesday closed lower amid budget talks in Washington and profit-taking after the S&P 500 reached a record high on Monday, and concerns the Federal Reserve might curtail its bond-buying program of $85 billion a month as early as next week

The S&P 500 lost 0.32% to close at 1,802.62 while the Dow Jones Industrial Average fell 0.33% to 15,973.13. The Nasdaq closed 0.2% lower at 4,060.49.

4. -- Congressional negotiators reached a modest budget agreement Tuesday to restore about $65 billion in automatic spending cuts from programs ranging from parks to the Pentagon, with votes expected in both houses by the end of the week.

Officials said the increases would be offset by a variety of spending reductions and increased fees elsewhere in the budget totaling about $85 billion over a decade, enough for a largely symbolic cut of roughly $20 billion in the nation's $17 trillion debt.

House Budget Committee Chairman Paul Ryan, R-Wis., who with his Senate counterpart, Patty Murray, D-Wash., unveiled the measure on Tuesday, will pitch the measure to skeptical conservatives at a closed-door GOP meeting on Wednesday. Democrats are set to discuss it as well, but the measure won an immediate endorsement from President Obama.

5. -- MasterCard (MA), the credit card giant, announced Tuesday a 10-for-1 stock split, an 83% boost to its dividend and a buyback plan of $3.5 billion.

The stock closed Tuesday at $763.61. The stock split will push the shares below $80. The split is scheduled to occur Jan. 21.

The new quarterly dividend of $1.10, or 11 cents after the split, will be paid Feb. 10.

"Today's actions reflect our ongoing commitment to deliver shareholder value as well as our confidence in the long-term growth and financial performance of our company," said Ajay Banga, MasterCard's president and CEO, in a statement.